Is Lane-Wooster, OH a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lane-Wooster has remained a Seller's Market.
Key Takeaway
Lane-Wooster is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lane-Wooster, OH
How much do homes in Lane-Wooster, OH cost?
Median Sold Price
$81,500
$58/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lane-Wooster have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Lane-Wooster was $81,500 in May 2024, up 4.5% from last year, and the median price per square foot was $58.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $75K | $47K | -37.3% |
| 3 Bedrooms | $78K | $95K | +21.8% |
| 4 Bedrooms | $90K | $79.9K | -11.2% |
| 5+ Bedrooms | $125K | $42K | -66.4% |
Summary: Lane-Wooster housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 37.3%, 3 bedroom homes increased by 21.8%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes decreased by 66.4%.
Median Sold Price Compared To Nearby Neighborhoods
| West Akron | $104.2K | $122.2K | +17.2% |
| Lane-Wooster | $78K | $81.5K | +4.5% |
| Summit Lake | $64.5K | $64K | -0.8% |
Housing Supply in Lane-Wooster, OH
How many homes are available in Lane-Wooster, OH?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 32 | -23.8% |
Summary: The Lane-Wooster real estate market had 32 homes for sale in May 2024, a 23.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 31 | 22 | -29.0% |
| 4 Bedrooms | 7 | 4 | -42.9% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Lane-Wooster housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 29%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 6 | -53.8% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lane-Wooster, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Lane-Wooster in May 2024, down by 53.8% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Lane-Wooster, OH
How long does it take to sell a home in Lane-Wooster, OH?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 79 Days | +51.6% |
Summary: Homes in Lane-Wooster had an average of 79 days on market in May 2024, up by 51.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lane-Wooster are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Lane-Wooster; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
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